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So Chamath has been making a lot of noise attacking Robinhood and implying there's a conspiracy because it sells retail transaction data (payment for order flow) to Ken Griffin's Citadel.

He wants you use his platform sofi, but it turns out, they literally do the same thing? 1/n


Here's Chamath's S-4 to take SoFi Public via his SPAC (patriotically incorporated in the cayman islands).

These basically have to be filed as part of any merger or acquisition by a public company.

So lots of details about SoFi's business!

https://t.co/Rs7gYPU9Ao


What do we see? Well it turns out SoFi, like RH, says it earns a good chunk of change from selling payment for order flow!


On SoFi's website, they claim this is in the "best interest of consumers" because it allows commission free trading. Huh!

Notice their execution partner is the clearinghouse Apex, which also restricted $GME and $AMC trades like RH. But it goes farther!
https://t.co/4TLPGMfy7v


Back to the S-4: Apex isn't just their partner, SoFi literally owns 16.8% of Apex!

That means, as they're happy to tell you, SoFi benefits from Apex earning fees for pay-for-order flows from all sorts of exchanges and market makers! (not just the ones on SoFi itself!)
Anyone want to buy $BTC at a 47% discount to current prices? Here's how you can do it.

I can't believe I'm saying this, but $EOS might actually be the best risk/reward in digital assets right now due to their massive #Bitcoin holdings.

Thread time 👇

First, let's talk risk/reward. Over the past 2 years, $EOS is the only well-known token other than $XRP that is not higher. In fact, it has underperformed by a LOT.

Even other zombie projects are up 300-1000%

That's a nice start for an investment -- low downside, relatively


Next, the math:

Block One owns 140,000 $BTC. At $2.77, the market cap of $EOS is $2.6 bn, which is only 47% of the value of their BTC holdings.

That means by buying $EOS, you are actually buying $BTC at $18,771. Huge discount.

The question is "can you unlock this value"?


Why does book value matter? Here's a good explanatory thread:

https://t.co/Mp5bn0dbNE

$WNXM showed how this works. WNXM traded below BV temporarily, until investors realized the value of the underlying ETH. These are sweet setups and don't last


Counter-argument: Generating an ROI from BV is basically a bet on what management will do with that capital, & of course the EOS & Block One teams have done nothing to instill confidence right?...

https://t.co/bKghLv7TmF

...but that's precisely why this is so interesting.